Gray Television, Inc. (NYSE:GTN) CFO James C. Ryan Sells 11,511 Shares

Gray Television, Inc. (NYSE:GTNGet Rating) CFO James C. Ryan sold 11,511 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $20.01, for a total value of $230,335.11. Following the transaction, the chief financial officer now directly owns 452,448 shares in the company, valued at approximately $9,053,484.48. The transaction was disclosed in a filing with the SEC, which is available at this link.

NYSE GTN opened at $20.52 on Wednesday. The stock has a market cap of $1.96 billion, a PE ratio of 32.06, a P/E/G ratio of 0.37 and a beta of 1.73. Gray Television, Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $25.24. The business has a 50 day moving average price of $21.15 and a two-hundred day moving average price of $21.45. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 3.74.

Gray Television (NYSE:GTNGet Rating) last released its quarterly earnings results on Friday, May 6th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $827.00 million during the quarter, compared to analysts’ expectations of $805.23 million. Gray Television had a return on equity of 6.38% and a net margin of 4.19%. Gray Television’s quarterly revenue was up 52.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Sell-side analysts anticipate that Gray Television, Inc. will post 5.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, June 14th. Gray Television’s dividend payout ratio is presently 50.00%.

A number of research firms have weighed in on GTN. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Barrington Research boosted their price objective on shares of Gray Television from $25.00 to $28.00 in a research note on Wednesday, March 2nd. Loop Capital boosted their price objective on shares of Gray Television from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, March 7th. Wells Fargo & Company boosted their target price on shares of Gray Television from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, February 28th. Finally, Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research report on Friday, May 13th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new position in Gray Television in the 1st quarter worth approximately $567,000. Penn Capital Management Company LLC boosted its stake in shares of Gray Television by 13.6% during the 1st quarter. Penn Capital Management Company LLC now owns 605,367 shares of the company’s stock valued at $14,335,000 after buying an additional 72,673 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Gray Television during the 1st quarter valued at approximately $73,000. Guggenheim Capital LLC boosted its stake in shares of Gray Television by 3.8% during the 1st quarter. Guggenheim Capital LLC now owns 30,927 shares of the company’s stock valued at $683,000 after buying an additional 1,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Gray Television by 30.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,311,553 shares of the company’s stock valued at $51,016,000 after buying an additional 533,361 shares during the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.

About Gray Television (Get Rating)

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

See Also

Insider Buying and Selling by Quarter for Gray Television (NYSE:GTN)

Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.